Barclays Defeats New York High Court Shareholder Lawsuit

New York’s highest court on Tuesday rejected arguments that current and former officials of London-based Barclays PLC can be sued under New York law—a decision that sparked rebuke from the court’s chief judge.

“Doc Brown and Marty McFly would be impressed with the majority’s ability to transport the present into the past to arrive at today’s holding,” Chief Judge Rowan Wilson wrote in his solo dissent, referencing the film Back to the Future.

The 6-1 court affirmed the lower court’s dismissal of New York-based Ezrasons Inc.'s shareholder lawsuit alleging nearly 50 current and former Barclays directors and officers breached ...